City of Gastonia residents will have the opportunity to vote on a $75 million Transportation General Obligation Bond Referendum on the November 8 ballot. Proposed projects include street and road repairs, street resurfacing, required utility relocations, intersection improvements, and walkway improvements. The last bond issued in 2010 for $32 million dollars was approved by voters.
“Voter-approved bonds are the most affordable and most effective way to finance projects like these. If approved, this bond referendum would allow the city to get ahead of projects that need attention now instead of waiting many years in the future,” said City Manager Michael Peoples. These projects improve safety and walkability all around the City.”
The City Council unanimously approved the bond referendum at its August 2 meeting. The bonds would be issued in two parts and City leaders believe that Gaston County property tax valuations will be higher than the current values, and increased revenue from growth will pay for the bond with no tax rate increase to residents. The bonds must be repaid within 20 years and proceeds expended within 10 years from approval.
“We want to continue to make our city a great place to live, work, and play,” said Mayor Walker E. Reid. “We know that our city needs these improvements and the time is right.”
The proposed projects in the bond referendum include:
- Street repaving and widening
- Walkway improvements
- Roadway manhole cover repairs
- Reduce traffic congestion at intersections
- Required utility relocations
- Safety improvements around schools and parks
Residents can also take an online survey to give their feedback about how the bond funds can be allocated: https://metroquestsurvey.com/e4a4r
Information is available at www.cityofgastonia.com/bond2022.